Raftar Enterprises had payments to suppliers of $520 and employees of $150. The company's customer receipts totaled $720, and it paid $15 in interest. Calculate the net fund of the business from operating activities.
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- How are financial statements used by bJoe Fellows is attempting to categorize several items from his company’sfinancial statements so he can determine his working capital. Joenotices the following categories of accounts and amounts: cash, $3,500;accounts payable, $10,200; accounts receivable, $15,000; sales taxesdue the city of Phoenix, $750; sales taxes due the Arizona Departmentof Revenue, $3,450; inventory, $17,500; wages payable, $5,350; taxespayable (federal), $2,570; money market fund, $12,300; and computer,$3,400.a. List accounts classified as current assets and as current liabilities.b. Determine the amount of gross working capital.c. Determine the amount of net working capital.d. What is Joe’s current ratio?usiness?Gregg Corp. reported revenue of $1,450,000 in its cash basis income statement for the year ended Dec. 31, Year 7. Additional information was as follows: Accounts receivable, Jan 1, Year 7 $400,000 Accounts receivable, Dec 31, Year 7 $530,000 Under the accrual basis, Gregg would report revenue of O $1,580,000 O $1,035,000 $1,335,000 O $1,505,000Please provide correct answer financial accounting
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- Bank Nizwa entered into Al-Musharakah financing contract with Ahmed. during the first year there was a loss of OMR 38000.Capital Contribution Ratio (CCR) 40:60 (Bank : Ahmed)Profit Sharing Ratio (PSR) 20:80 (Bank : Ahmed)Calculate the profit/loss to be recognized by Bank NizwaWhat is the net income for this firm on the general accounting question?Holloway Company earned $6,200 of service revenue on account during Year 1. The company collected $5,270 cash from accounts recievable during Year 1. a. the balance of the accounts recievable that would be reported on the Decmeber 31,Year1,balance sheet b. the amount of net income that would be reported on the Year 1 income statement. c. the amount of net cash flow from operating activites that would be reported on the Year 1 statement of cash flows d. the amount of retained earnings that would be reported on the Year 1 balance sheet
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